Export revenue drops in October
Export revenue in October topped 20.8 billion USD, a drop of 1.5 percent from the previous month, but increasing 2.3 percent compared to the same period last year, according to the Ministry of Industry and Trade.
Illustrative image (Photo: VNA)Hanoi, (VNA) – Export revenue in October topped 20.8 billion USD, a drop of 1.5 percent from the previous month, but increasing 2.3 percent compared to the same period last year, according to the Ministry of Industry and Trade.
In the month, export earnings of the domestic sector posted a 1.5 percent increase on a monthly basis to 5.6 billion USD, while that of the foreign-invested sector decreased 2.6 percent to 15.17 billion USD.
Meanwhile, import turnover in the month totalled 20.7 billion USD, up 6.1 percent from last month and 13.6 percent from one year ago.
The country enjoyed a trade surplus of 100 million USD in October.
Total export revenues for the January-October period came to 200.3 billion USD, up 14.2 percent year on year.
Import value for the 10-month period stood at 193.84 billion USD, up 11.8 percent from the same period of 2017, translating into a trade surplus of 6.4 billion USD. The domestic sector reported a deficit of 20.7 billion USD while the foreign-invested sector posted a surplus of 27.1 billion USD (including crude oil).
Statistics revealed that export staples that continued to post increases in earnings included telephones and parts, textile-garment, electronics, computers and parts, machinery and tools, and footwear.
Export of some farm produce and aquatic products also rose, except for coffee and pepper bean which earned less compared to the same period last year despite higher shipments due to declining export prices.
The Ministry of Industry and Trade forecast that export turnover of the entire 2018 could reach 239 billion USD, an increase of 10-12 percent. The manufacturing and processing sector is expected to bring home 196.18 billion USD, rising 12.5 percent, while agriculture and fisheries are predicted to earn 27.5 billion USD, up 5.4 percent.-VNA
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